Public finance

The municipal bond market is rife with investment opportunities, thanks to fourth quarter growth in state tax revenue, U.S. Trust says.

Seasonal outflows continued for tax-exempt money market funds as $4.49 billion escaped the industry and total net assets settled at $259.42 billion in the week ended April 29, according to The Money Fund Report, a service of iMoneyNet.com.

Modest action in the municipal secondary market, particularly out in longer maturities, is propelling an otherwise quiet session.

The largest trend facing the municipal world right now is efforts on multiple fronts to become more transparent, according to speakers at a Wednesday panel at the National Federation of Municipal Analyst's annual conference.

A Virginia Circuit Court judge has ruled that the financing mechanism of the Elizabeth River Crossings project in the southeastern part of the state is unconstitutional, calling into question the future of the multi-billion dollar public-private partnership and other Virginia P3s.

The municipal market started slowly out of the gates Thursday morning as traders reported modest activity in taxable paper in the secondary.

Table as of: 05/01/2013 15:36 PM Invisible Supply Issuer and purpose Amount

ARKANSAS

ALABAMA

Moody's Analytics, a subsidiary of Moody's Corporation, launched a new CreditView service for the public finance sector.

CALIFORNIA

CALIFORNIA

Table as of: 04/30/2013 10:45 AM Invisible Supply Issuer and purpose Amount

Long-term municipal bond issuance fell slightly for the month of April, yet still clings to a small increase for the year.

The impact of advances in information technology and the proliferation of open networks are mostly positive for financial markets, said speakers at the Milken Institute Global Conference in Beverly Hills.

Sen. Sheldon Whitehouse, D-R.I., has introduced legislation to authorize $500 million of federal grant money for nationally or regionally important surface transportation projects.

COLORADO

ALABAMA

President Obama on Monday tapped Charlotte, N.C. Mayor Anthony Foxx to replace Ray LaHood as Secretary of Transportation.